The Carlyle Group acquires four French logistics assets from CBRE Global Investors
CBRE Global Investors, acting on behalf of the CBRE Logistics Property Fund Europe (LPFE), has sold four logistics assets in France to certain investment funds, advised by The Carlyle Group.
The four industrial properties cover 1.5 million square feet of space, 62.1 percent of which is occupied by seven tenants.
Three of these properties are located in the established logistics hubs of Bondoufle, Combs-la-Ville and Marly surrounding Greater Paris. The fourth property is located in Toul, a well-established logistics submarket of Nancy in the North East of France.
Demand for industrial assets remains high in France due to sustained growth within the ecommerce sector and the ongoing economic recovery.
Carlyle intends to grow its presence in France, one of Europe’s largest logistics markets, as well as other Western European markets through additional investments in locations exhibiting attractive supply-demand fundamentals.
Pierre-David Baylac, Fund Manager at CBRE Global Investors, said: “With these four asset sales we have successfully executed our 2017 disposal plan with seven assets sold last year and almost completed the exit plan for LPFE.”
Marc Antoine Bouyer, managing director, Carlyle Europe Real Estate, added: “This acquisition represents one more step in our logistics assets investment strategy which is focused on acquiring and actively managing high-quality facilities located in several established European logistics markets. These additional French assets will be integrated into Carlyle’s French logistics platform which now exceeds 4.5 million square feet with almost 90 percent of its value now concentrated around the Paris, Lyon and Marseille markets.”